Firms & Funds

Emerging Managers: BlackFin, Gallant, Sterling Bay

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Roundup

Despite more emerging managers bringing funds to market, fundraising brought in its third lowest amount of the year. Eleven fund managers raised more than $771 million from Oct. 9 through Oct. 22, according to Buyouts data.

Year to date, new managers have raised a combined $45.1 billion, according to Buyouts.

BlackFin Capital Partners raked in more than any other private equity firm. The Paris-based firm raised $189.7 million from 13 investors for its third buyout fund, an SEC filing showed. Its most recently raised fund was a fintech venture fund in 2018, which raised €180 million.

BlackFin is an independent firm established in 2009, run by its four founding partners: Laurent Bouyoux, Eric May, Bruno Rostain and Paul Mizrahi.

Gallant Capital was second with its debut fund, which raised $162.5 million of a targeted $300 million. The amount was raised from 13 investors for the main fund and from two investors in a parallel fund, filings with the SEC showed. The firm was founded by two former Gores Group executives: Anthony Guagliano and Jon Gimbel.

Sterling Bay Capital was close behind with its third flagship. The Chicago-based firm raised $117.5 million of a targeted $250 million. The amount was raised through two vehicles.

Below is a rundown of the most significant emerging private equity funds that Buyouts Insider has identified as being in the market over the past few weeks:

Accolade Partners

  • Fund name: Accolade Partners Growth I Feeder, L.P.
  • Focus: Growth equity for technology and healthcare companies.
  • Amount raised: $26.8 million
  • Target: N/A
  • Location: Washington D.C.
  • Phone: +1 202-775-5595
  • Filing: https://bit.ly/31PRasM

BlackFin Capital Partners

  • Fund name: BlackFin Financial Services Fund III
  • Focus: Continental European companies in the financial industry.
  • Amount raised: $189.7 million
  • Target: N/A
  • Location: Paris
  • Phone: +33 0175000230
  • Filing: https://bit.ly/349MuQ3

CapitalWorks

  • Fund name: Capitalworks Private Equity Fund III L.P.
  • Focus: Manufacturing, distribution, business services, aerospace and defense, specialty chemicals.
  • Amount raised: $17.8 million
  • Target: N/A
  • Location: Cleveland, Ohio
  • Phone: +1 216-781-3233
  • Filing: https://bit.ly/2Pfe6Pm

Eqis Capital Partners

  • Fund names: Egis Capital Fund III LP; Egis Capital Fund III NI LP
  • Focus: Security, such as physical security, identity solutions and cybersecurity.
  • Amount raised: $45.7 million
  • Target: N/A
  • Location: Summit, New Jersey
  • Phone: +1 973-994-0606
  • Filing: https://bit.ly/2JlGLP3; https://bit.ly/2Nb5G8X

Farol Asset Management

  • Fund name: Farol Fund II, LP
  • Focus: Niche companies in the lower and middle markets in North America.
  • Amount raised: $27.5 million
  • Target: $225 million
  • Location: New York City
  • Phone: +1 212-918-4533
  • Filing: https://bit.ly/32Kxckb

Gallant Capital

  • Fund names: GALLANT CAPITAL PARTNERS I, L.P.; GALLANT CAPITAL PARTNERS I-A, L.P.
  • Focus: Technology, industrials, business services in the lower middle market.
  • Amount raised: $162.5 million
  • Target: $300 million
  • Location: Los Angeles
  • Phone: +1 310-422-7092
  • Filings: https://bit.ly/35ZbQBD; https://bit.ly/2JjZvhM

Gryphon Investors

  • Fund name: GRYPHON MEZZANINE PARTNERS II FEEDER FUND, L.P.
  • Focus: Business services, consumer products and services, healthcare, industrials, software.
  • Amount raised: $25 million
  • Target: $25 million
  • Location: San Francisco
  • Phone: +1 415-217-7400
  • Filing: https://bit.ly/33U2VzA

Morgan Creek Capital Management

  • Fund name: Morgan Creek Blockchain Opportunities Fund II, LP
  • Focus: Healthcare, energy & natural resources, emerging markets.
  • Amount raised: $60.9 million
  • Target: N/A
  • Location: Chapel Hill, North Carolina
  • Phone: +1 919-933-4004
  • Filing: https://bit.ly/2Jk6B5I

Partners Group

  • Fund name: Partners Group Private Equity II, LLC
  • Focus: Healthcare, consumer, media & telecom, information technology, industrials, infrastructure, financial and business services, real estate.
  • Amount raised: $43 million
  • Target: N/A
  • Location: New York City
  • Phone: +1 212-908-2600
  • Filing: https://bit.ly/340k7U2

Pennybacker Capital

  • Fund name: Pennybacker Credit II, LP
  • Focus: Real estate in the middle market.
  • Amount raised: $55 million
  • Target: $75 million
  • Location: Austin, Texas
  • Phone: +1 512-610-2910
  • Filing: https://bit.ly/32LQF41

Sterling Bay

  • Fund names: STERLING BAY CAPITAL PARTNERS III, LP; SBCP III – AI, LP
  • Focus: Real estate.
  • Amount raised: $117.5 million
  • Target: $250 million
  • Location: Chicago
  • Phone: +1 312-466-4110
  • Filings: https://bit.ly/2ofRkfb; https://bit.ly/2NedS8o

Download a spreadsheet with information about all of the funds:Emerging PE Roundup